Blockdaemon Inc., a distributed ledger platform for blockchain node management, today announced its support for the Oasis Network’s newly launched open finance and data economy mainnet network that will support a privacy-enabled blockchain.
In a blockchain, a node forms a fundamental part of the infrastructure of a blockchain by storing, spreading and preserving the blockchain data, and theoretically the entire ledger exists on every node and therefore each node can recreate the blockchain. In this way, the blockchain is tamperproof because every node can prove that every other node has not been modified by comparison.
Because all nodes need to be interconnected and synchronized means that they must be managed, this is where Blockdaemon’s high-speed, cloud-based, scalable platform comes into play.
Using Oasis Network’s privacy-enabled platform, Blockdaemon can provide extensive infrastructural support, including in-app capability to deploy nodes in just a few clicks on Oasis. It also provides live monitoring with metrics tools, application programming interfaces, backup systems and scaling across multiple cloud providers.
The company expects this will become a much-desired resource for many blockchain-hungry enterprise businesses looking to make use of this new data economy.
“Managing node infrastructure can be complicated, time-consuming and costly,” said Konstantin Richter, chief executive of Blockdaemon. “Blockdaemon simplifies the process of deploying nodes, to allow developers to spend time on what they do best: innovating and building next-generation networks.”
The Oasis Network acts as a high performant blockchain that works to keep user data confidential and protected and provides users greater control and ownership of that data with tamperproof crypotographic protection of historical provenance.
According to the company, existing blockchain networks have struggled to deliver processing capabilities suitable for complex applications. Oasis Network seeks to deliver superior transaction speeds with computationally intensive, privacy-sensitive services.
“With easy-to-use integrations and interoperability at the core of what we do, we provide enterprises with the best-fit node configurations that allow them to rapidly scale up operations,” Richter said. “With our continued support for Oasis since early on in their project, we are taking a step toward our shared vision of a decentralized web in which security and user privacy are paramount.”
Together Blockdaemon and Oasis will deliver a vision of a decentralized web in which user privacy will be balanced alongside high-performance processing capabilities for enterprise use cases with real-world practical performance standards.
Blockdaemon has collaborated with Oasis on a number of projects with the objective of meeting this goal, for example, deploying validator nodes on the Oasis network for trustworthy actors such as the Frankfurt School Blockchain Center. By doing so, Blockdaemon supports the long-term health and integrity of the network and maintains the set of validators that keeps the network intact.
“Blockdaemon has played a valuable role in the recent launch of the Oasis mainnet, a significant milestone towards our shared goal of a privacy-centered web,” said Jernej Kos, director of the Oasis Foundation. “With an easy-to-manage suite of services that simplifies the process of deploying and managing nodes, Blockdaemon has helped secure the integrity of our network, while ensuring that it remains truly decentralized.”
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